Tesla batteries to be mass-produced by Panasonic starting March 2024

Panasonic said on Monday it will begin mass production of a new lithium-ion battery for Tesla at a plant in Japan before the end of March 2024.

Unveiled by the Japanese company in October, the 4680 format (46 millimeters wide and 80 millimeters long) battery is about five times larger than currently supplied batteries. TeslaWhich means that the US electric vehicle (EV) manufacturer will be able to reduce production costs.

The new Powerpack is also expected to improve vehicle range, which could help Tesla lure more drivers to EVs.

Panasonic The company will build two new production lines at its Wakayama factory in western Japan to make batteries, the company said in a news release.

The company did not say how much it would spend on the expansion.

Nikkei newspaper Reported Earlier Panasonic had planned to invest JPY 80 billion (about Rs 5,215 crore) in the plant.

© Thomson Reuters 2022

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